“We reiterate our BUY rating. 3Q’17 AFFO/sh results above consensus but core FFO/sh misses the Street —Yesterday, Gramercy reported 3Q’17 core FFO/sh of $0.53, which was $0.01 below the Street consensus and $0.03 below our estimate (GPT’s core FFO excludes discontinued operations, acquisition costs, mark-to-market on interest rate swaps, and certain one-time charges). However, the REIT reported 3Q’17 AFFO/sh of $0.51, which was $0.01 above the Street consensus but $0.02 below our estimate. Acquisition and disposition activity during 3Q’17 indicative of the strong progress on capital recycling strategy—During 3Q’17, Gramercy acquired 51 properties for $869M and three leased land parcels in Opa Locka, FL, for $88.3M.”,” Ladenburg Thalmann Financial Services’ analyst wrote.
Several other analysts have also weighed in on the company. ValuEngine upgraded Gramercy Property Trust from a hold rating to a buy rating in a report on Friday, September 1st. Stifel Nicolaus restated a buy rating and set a $31.00 price target on shares of Gramercy Property Trust in a report on Tuesday, August 22nd. BidaskClub upgraded Gramercy Property Trust from a hold rating to a buy rating in a report on Tuesday, August 8th. TheStreet lowered Gramercy Property Trust from a b- rating to a c rating in a report on Tuesday, August 1st. Finally, JMP Securities lowered Gramercy Property Trust from a market outperform rating to a market perform rating in a report on Monday, July 17th. Two analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. Gramercy Property Trust presently has a consensus rating of Hold and a consensus target price of $31.25.
Gramercy Property Trust (NYSE GPT) traded down $0.01 during midday trading on Wednesday, hitting $29.01. The stock had a trading volume of 741,324 shares, compared to its average volume of 1,010,000. The company has a quick ratio of 0.42, a current ratio of 0.24 and a debt-to-equity ratio of 0.76. The company has a market cap of $4.66 billion, a P/E ratio of 14.45, a P/E/G ratio of 2.00 and a beta of 0.56. Gramercy Property Trust has a 52-week low of $24.09 and a 52-week high of $31.26.
Gramercy Property Trust (NYSE:GPT) last posted its earnings results on Tuesday, October 31st. The real estate investment trust reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.01). The firm had revenue of $134.90 million for the quarter, compared to the consensus estimate of $135.45 million. Gramercy Property Trust had a net margin of 14.10% and a return on equity of 2.60%. The firm’s revenue was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.16 earnings per share. equities analysts expect that Gramercy Property Trust will post 2.08 EPS for the current fiscal year.
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The business also recently declared a quarterly dividend, which will be paid on Friday, January 12th. Investors of record on Friday, December 29th will be issued a dividend of $0.375 per share. The ex-dividend date is Thursday, December 28th. This represents a $1.50 annualized dividend and a yield of 5.17%. Gramercy Property Trust’s payout ratio is presently 348.84%.
In other Gramercy Property Trust news, President Benjamin P. Harris sold 9,000 shares of the stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $30.50, for a total value of $274,500.00. Following the sale, the president now owns 96,101 shares in the company, valued at $2,931,080.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.96% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in GPT. Penserra Capital Management LLC increased its stake in Gramercy Property Trust by 16.1% in the second quarter. Penserra Capital Management LLC now owns 3,914 shares of the real estate investment trust’s stock worth $116,000 after purchasing an additional 542 shares during the period. Sii Investments Inc. WI purchased a new stake in Gramercy Property Trust in the second quarter worth $208,000. Wittenberg Investment Management Inc. purchased a new stake in Gramercy Property Trust in the second quarter worth $213,000. Cetera Investment Advisers purchased a new stake in Gramercy Property Trust in the second quarter worth $215,000. Finally, GW&K Investment Management LLC purchased a new stake in Gramercy Property Trust in the second quarter worth $218,000. Institutional investors and hedge funds own 87.01% of the company’s stock.
About Gramercy Property Trust
Gramercy Property Trust is a real estate investment trust (REIT), which is an investor and asset manager of commercial real estate. The Company’s operating segments include Investments/Corporate and Asset Management. The Investments/Corporate segment includes all of its activities related to the investment and ownership of commercial properties located throughout the United States and Europe.
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